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C of O

Federal Government issues 1,300 C of O to Federal Lands

The Federal Government says it has approved and issued 1,300 Certificates of Occupancy (C of O)to owners of verified federal government land as of October 25, 2018.

Minister of Power, Works and Housing, Mr. Babatunde Fashola, disclosed this at a news conference in Abuja on Monday.

Fashola said the approval and issuance of the certificates were part of government’s effort at tackling the backlog of issuance of consent and certificates of occupancy (C of O) on federal government lands.

“A total of 1,216 application for consent to transfer interests in land application and 1,300 certificates of occupancy have been approved and signed respectively as of 25th October 2018.

“Some of these transactions started over a decade ago and those just getting certificates acquired their properties years back but never got title,” the minister said.

He said the government had also implemented housing policies like the reduction of equity contribution from five per cent to zero per cent for those seeking mortgage loans of up to five million Naira.

The minister said reduction from 15 per cent to 10 per cent for those seeking loans over five million Naira was helping to ease access to housing.

He said the full implementation of the national housing programme by the current administration had resulted in a nationwide housing construction in 34 states where no less than 1,000 people were being employed on each site.

The minister said the housing sites had become an ecosystem of human enterprise, where artisans, vendors, suppliers and craftsmen converge to partake of opportunities and contribute to nation building.

Credit: Punch

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